HB 380: "An Act relating to contributions to the Alaska Fire Standards Council and to an insurer tax credit for those contributions; and providing for an effective date."
00HOUSE BILL NO. 380 01 "An Act relating to contributions to the Alaska Fire Standards Council and to 02 an insurer tax credit for those contributions; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 21.89 is amended by adding a new section to read: 05 Sec. 21.89.075. Insurance tax credit for gifts to the Alaska Fire Standards 06 Council. (a) For cash contributions made for fire services training programs to the 07 Alaska Fire Standards Council established under AS 18.70.330, a taxpayer is allowed 08 a credit against the tax due 09 (1) that is imposed on insurance that includes coverage for losses due 10 to fire under AS 21.09.210; or 11 (2) under AS 21.66.110. 12 (b) The amount of the credit allowed under (a) of this section is the lesser of 13 (1) an amount equal to 14 (A) 50 percent of contributions of not more than $100,000; and
01 (B) 100 percent of the next $100,000 of contributions; or 02 (2) 50 percent of the taxpayer's tax liability under this title. 03 (c) A contribution claimed as a credit under this section may not 04 (1) be claimed as a credit under more than one provision of this title; 05 and 06 (2) when combined with credits taken during the taxpayer's tax year 07 under AS 43.20.014, AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or 08 AS 43.77.045, exceed $150,000. 09 * Sec. 2. AS 37.05.146(b) is amended by adding a new paragraph to read: 10 (6) receipts of the Alaska Fire Standards Council for which a taxpayer 11 is allowed a credit under AS 21.89.075. 12 * Sec. 3. AS 43.20.014(d) is amended to read: 13 (d) A contribution claimed as a credit under this section may not 14 (1) be claimed as a credit under another provision of this title; 15 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 16 imposed by this chapter; and 17 (3) when combined with credits taken during the taxpayer's tax year 18 under AS 21.89.070, 21.89.075, AS 43.55.019, AS 43.56.018, AS 43.65.018, 19 AS 43.75.018, or AS 43.77.045, exceed $150,000. 20 * Sec. 4. AS 43.55.019(d) is amended to read: 21 (d) A contribution claimed as a credit under this section may not 22 (1) be claimed as a credit under another provision of this title; and 23 (2) when combined with credits taken during the taxpayer's tax year 24 under AS 21.89.070, 21.89.075, AS 43.20.014, AS 43.56.018, AS 43.65.018, 25 AS 43.75.018, or AS 43.77.045, exceed $150,000. 26 * Sec. 5. AS 43.56.018(d) is amended to read: 27 (d) A contribution claimed as a credit under this section may not 28 (1) be claimed as a credit under another provision of this title; and 29 (2) when combined with credits taken during the taxpayer's tax year 30 under AS 21.89.070, 21.89.075, AS 43.20.014, AS 43.55.019, AS 43.65.018, 31 AS 43.75.018, or AS 43.77.045, exceed $150,000.
01 * Sec. 6. AS 43.65.018(d) is amended to read: 02 (d) A contribution claimed as a credit under this section may not 03 (1) be claimed as a credit under another provision of this title; and 04 (2) when combined with credits taken during the taxpayer's tax year 05 under AS 21.89.070, 21.89.075, AS 43.20.014, AS 43.55.019, AS 43.65.018, 06 AS 43.75.018, or AS 43.77.045, exceed $150,000. 07 * Sec. 7. AS 43.75.018(d) is amended to read: 08 (d) A contribution claimed as a credit under this section may not 09 (1) be claimed as a credit under another provision of this title; and 10 (2) when combined with credits taken during the taxpayer's tax year 11 under AS 21.89.070, 21.89.075, AS 43.20.014, AS 43.55.019, AS 43.56.018, 12 AS 43.75.018, or AS 43.77.045, exceed $150,000. 13 * Sec. 8. AS 43.77.045(c) is amended to read: 14 (c) A contribution claimed as a credit under this section may not 15 (1) be claimed as a credit under another provision of this title; and 16 (2) when combined with credits taken during the taxpayer's tax year 17 under AS 21.89.070, 21.89.075, AS 43.20.014, AS 43.55.019, AS 43.56.018, 18 AS 43.65.018, or AS 43.75.018, exceed $150,000. 19 * Sec. 9. This Act takes effect July 1, 2000.